Qatar and Monaco have announced the launch of a joint venture international company that would purchase and administer hotels and tourist resorts in Europe, North America and the Middle East.

Named ‘Monaco QD International Hotels and Resorts Management’, Monaco’s National Company for Finance and Qatari Diar are its joint owners. The initial capital of the company is €5m.

The headquarters of the company will be in Monaco although Qatar has a majority stake in the venture. The company will buy and administer hotels outside Monaco.

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